Older Workers See Improved Job Prospects amid Post-pandemic Shifts

Millions of older workers were displaced during the early months of the COVID-19 pandemic, but five years later, changing workplace dynamics are creating new opportunities for career longevity.

Between March and April 2020, approximately 5.7 million workers aged 55 and older lost their jobs, according to the Economic Policy Institute. Now, some of those workers are benefiting from employer initiatives designed to retain older employees, said Carly Roszkowski, vice president of financial resilience programming at AARP.

Woman working remotely | Source: Pexels

These initiatives include phased retirement programs, part-time options, and increased remote or hybrid work — all of which are helping older workers stay employed longer. “We’re seeing more and more employers putting in benefits and programs that help retain some of that older workforce,” Roszkowski noted.

The shift toward remote work has had a particularly notable impact. Research from the Center for Retirement Research at Boston College found that remote workers are 1.4 percentage points less likely to retire than their in-office counterparts, potentially extending careers by nearly a year. “That’s all going to be good for their finances,” said Geoffrey Sanzenbacher, a research fellow at the Center.

Man talking on the phone and typing on a computer | Source: Pexels

However, employer policies vary. While some firms maintain remote flexibility, others — including JPMorgan, AT&T, Amazon, Dell, and the federal government — have returned to in-person requirements. Despite these challenges, the employment rate for older workers with disabilities has risen 10% since the pandemic, aided by remote options.